Described as a "master limited partnership", Teekay Offshore Partners (TOP) will focus on providing marine solutions to the growing offshore energy sector. Teekay expects to own assets that generate stable, long-term cash flows.
Initially, the partnership, which will combine the tax benefits of a limited partnership with the liquidity of publicly traded securities, will acquire an interest in Teekay's existing shuttle tanker and floating storage and offloading vessel businesses plus certain other assets.
The
